Valuing Fisheries Depreciation in Natural Resource Accounting: The Pelagic Fisheries in Northeast Peninsular Malaysia

In this paper, an approach based onthe net present value method is used to account forthe changes in the value of fisheries resources. Changes in the value of fisheries resources can occurbetween successive years' catch as well as betweencurrent and optimal levels of catch. These changesneed to be accounted for in the national accountingsystem to reflect the `true' net national income thatis sustainable. The approach outlined in this paper isdesirable as it allows the estimation of thedepreciation value of fisheries resource with limitedbiological information. The application of theapproach to the pelagic fisheries in NortheastPeninsular Malaysia (NEPM) showed that the resourcedepreciated in value over most years from 1982 to1993. These depreciations correspond to increasedfishing effort. In addition, pelagic catches in NEPMfrom 1982 to 1993 were lower than the optimal levelsof catch due to overfishing. Thus policies aimed atreducing fishing effort can provide improvement inboth the potentially higher capital values of thefishery resource and the earning potentials of thefishing industry in NEPM.     

A Case for Percentage Commission Contracts: The Impact of a “Race” Among Agents

In standard principal-agent problems, the issue at hand is how to align the interests of the agent with those of her principal. A commonly used contract involves the principal paying the agent a percentage of the sale price as commission. With respect to real estate brokerage contracts, it has been argued that percentage commission contracts fail to provide sufficient incentives to the agent. This paper re-evaluates the standard solution to a one seller, one agent agency problem by introducing more than one agent. It is shown that percentage commission contracts can induce first-best effort levels from agents. The result is due to the negative externalities created by the winner-takes-all race among agents. The optimal commission rates in this model are inconsistent, however, with the observed uniformity in commission rates across markets in the USA.     

Saying it without words: a qualitative study of employee voice in the Iranian building sector

Abstract

The primary aim of this study is to examine the nature, extent and workplace experiences of voice in an industry characterized by vulnerable workers with precarious term of employment. Using qualitative data on the practice of voice and participation among a sample of construction and building materials & products manufacturing firms, we found that the motivation of workers to fulfil their basic human needs take precedence over other needs such as voice and participation intention. The extent to which employee voice was embedded in the organizational policies was found to rely primarily upon the need for compliance with minimum labor legislation and ISO quality management factory regime. Our findings also suggest that voice and participation beyond regulatory and ISO quality compliance remain at the sole discretion of the management that advocated a carrot and stick orientation. The article concludes with the discussion of theoretical and practical implications of the findings and identification of a number of new avenues for future research.     

Measuring the technical efficiency of cooperative societies in Kuwait

This study employs bootstrap data envelopment analysis to measure the technical efficiencies of 48 Kuwaiti retail cooperative societies (coops) during the years 2012–2015. Average profit efficiency falls substantially from 84% to 70% after applying a bootstrap correction. The bias is larger for coops originally identified as being on the efficient frontier. The average coop is too small, but both profitability and efficiency are negatively related to the number of direct branches (mini‐marts). Also, coops can increase profitability through greater equity capitalization, whereas better control of labor costs leads to higher profit efficiency.     

Does faith move stock markets? Evidence from Saudi Arabia

This paper investigates the effects of religious beliefs on stock prices. Our findings support the viewpoint that the religious tenets have important bearing on portfolio choices of investors. It is found that Shariah-compliant stocks have higher return and volatility than their non-Shariah compliant counterparts.     

Mobility and optimal tenure choice

In this paper, we offer a dynamic model of the optimal tenure behavior of an individual who faces the possibility of moving multiple times during his lifetime. We also investigate the lifetime effects of such factors as income tax, property tax, transaction costs, and mortgage rates on the household’s tenure choice. The agents in the model utilize a genetic algorithm, a probabilistic search approach, to determine their optimal lifetime tenure choice path. The agents are forward looking in that they anticipate such possible events as changes in jobs, marital status, household size, or dissatisfaction with current residence. Our results suggest several housing policy implications and explain some of the empirical findings in the literature.     

Value-based performance excellence measurement for higher education institution: instrument validation

The purpose of this article is to construct-validate an instrument of value-based performance excellence measurement for higher education institution (HEI) in Malaysia. The HEI performance is measured using 6 value indicators of leadership, culture, productivity, employee, stakeholders and overall performance. 1,100 questionnaires were distributed and 275 questionnaires were used for analysis. Confirmatory factor analysis (CFA) approach was deployed by using analysis of moment structures software. The results for the hypothesised CFA model revealed the fit statistics of CFI = 0.944, TLI = 0.939 and RMSEA = 0.075. In conclusion, the CFA model fitted the data well. Implications of the study was significant to HEI to consider and adapt the value-based assessment approach in university assessment for total excellence.